Industry Analysis & Industry Trends
The Medical and Surgical Equipment Manufacturing industry has performed relatively well in recent years. While most manufacturing industries are in decline and facing an uncertain future (due to the high Australian dollar, strong competition and high production costs), companies in this industry are beating the odds and making profit. The industry's contribution to the economy has also been stable over the past five years, supported by high profit margins, with steady future growth expected.
Australia's ageing population and expanding healthcare sector are driving demand for healthcare products, and delivering strong returns for the Medical and Surgical Equipment Manufacturing industry... purchase to read more
Industry Report - Starting a New Business Chapter
New firms face several entry barriers to this industry, such as government policy and regulation; the rate of technological change; research and development costs; and, access to highly-skilled staff. Overall, barriers to entry in the industry are high and steady.
Government policy can hinder access for new entrants. Essentially, medical devices are subject to the general controls of the relevant Australian health authorities. These controls are the baseline requirements that apply to all medical devices necessary for marketing, proper labelling and monitoring performance. Increasing quality and performance accreditation required by government and customer markets is a barrier to entry for firms joining the industry... purchase to read more